The sms building
26 NW 23rd Place, Portland, Oregon
Located at the gateway to the Northwest 23rd Avenue retail corridor, just west of NW 23rd Avenue & West Burnside. West Burnside is the primary east-west thoroughfare in the city, dividing North and South Portland.
The property benefits from high visibility and easy access from the signalized intersection of West Burnside & NW 23rd Place, along with off-street parking, which comes at a premium in this neighborhood. The vibrant co-tenancy here includes a mix of daily needs such as locally-owned Zupan’s Markets, an upscale wine and grocery market, and Pharmaca, along with local and national soft goods retailers such as Urban Outfitters, Chico’s, and TWIST, Portland’s mainstay showroom for high-end artisan jewelry.
Trade Area Overview
The property is surrounded by the long-established, densely-populated, high-income neighborhoods of Portland’s West Hills, along with the mix of old, Portland-style townhouses and new apartment towers that are popping up as population growth has fueled apartment construction in the central city over the past decade. The population has grown 18.69% since 2010 and is expected to grow another 11.14% in the next five years [within one mile].
Northwest 23rd has been compared to Newbury Street in Boston: upscale, boutique retail, with a mix of eateries and stores; the unusual configuration of below-grade and walk-up boutiques generates a unique atmosphere. The historic architecture of the area creates an environment that serves as an untraditional anchor for its retailers.
|0.5 Miles||1 Mile||2 Miles|
|2023 Projected Pop:||13,312||41,585||74,420|
|Avg Household Income:||$95,831||$94,361||$98,679|
|% Pop Bachelor's Deg +:||74.07%||70.52%||68.41%|
|Median Home Value:||$648,711||$611,085||$620,563|